Ready Capital Originates Over $800 million in Small Balance Multifamily Loans in 2021
NEW YORK, Feb. 17, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital") today announced that it was recently named a top-five contributor to the Optigo Small Balance Loan program by Freddie Mac, originating in excess of $525 million in 2021. This recognition caps a year in which Ready Capital originated in aggregate over $800 million of small balance multifamily transactions collateralized by more than 260 properties, exceeding its previous record set in 2020. Ready Capital’s strong production included over $270 million of Bridge-to-Small Balance Agency transactions. This unique small balance bridge product provides flexible solutions to investors of value-add multifamily properties nationwide. Ready Capital classifies multifamily loans up to $7.5 million as small balance loans.
"Our partnership with Freddie Mac continues to prosper as we share the mission to expand affordable rental housing throughout the country," said Adam Zausmer, Chief Credit Officer at Ready Capital. "We attribute these successes to the strength of our firm’s nationwide relationships, and our ability to deliver certainty of execution through our best-in-class network of loan officers and support teams."
About Ready Capital Corporation
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York, New York, Ready Capital employs over 500 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.
Contact:
Media Relations
Ready Capital Corporation
PR@readycapital.com
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SOURCE Ready Capital Corporation
Ready Capital Corp.
Symbol: RC
Exchange: NYSE
Founded: 2007 (17 years)
Type of REIT: Mortgage REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Mortgage
Internally Managed REIT
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Last updated: 2024-05-16 - v1.3